Oil is the world’s most actively traded commodity, but forecasts vary as to whether it will start to wane in the decades to come. Understanding the changes sweeping through the oil industry and market today are key to understanding the outlook for economic growth, climate change, and geopolitical conflict.
After a wobbly first half of 2023,[1] when crude oil prices were affected by a banking crisis in the United States and the prospects of a recession in...
Earlier this month, OPEC+ leaders Saudi Arabia and Russia announced further voluntary production and export cuts, with the former alone accounting for nearly half of the OPEC+ aggregate.
National oil companies (NOCs) produce about half of the world’s oil and own the bulk of oil and gas reserves. They are also large issuers of bonds held by international financial institutions. Their ESG risks should be a matter of great concern.
In a surprise announcement a day after April Fools’ Day, the Organization of the Petroleum Exporting Countries (OPEC) and 10 additional oil exporters (together known as OPEC+) pulled...
The politically charged debate about investing based on environmental, social, and governance (ESG) principles has led to a fog of confusion about its merits and drawbacks.[1] Claims and...
Achieving the goal of net-zero greenhouse gas emissions by 2050 requires a substantial reduction in the share of high-emitting fossil fuels in primary energy consumption.
On October 11, 2022, Columbia University’s Center on Global Energy Policy convened a roundtable to discuss whether there is access to adequate financing for oil and gas assets to meet energy security and affordability needs during the transition to net-zero emissions.
Latin America’s oil sector has experienced tectonic—and likely irreversible—changes during the past decade. Production fell to 7.8 million barrels of oil per day (mb/d) in 2022 from 10.4...